Corn prices are currently down 1 to 2 cents in Wednesday morning trade, with futures rising 2 to 3 cents at Tuesday’s close. The national average Cash Corn price increased by 2 1/2 cents to $3.94 1/4. EIA data out Wednesday may show a decrease in ethanol output for the week ending January 30.

A South Korean importer bought 65,000 MT of corn in a private tender on Tuesday. The Treasury released guidance on the 45Z tax credit, pending a public hearing in May. Corn futures closed at $4.28 1/2 for March 26, up 2 3/4 cents, and at $4.35 3/4 for May 26, up 2 1/4 cents. Nearby Cash Corn was $3.94 1/4, up 2 1/2 cents. Jul 26 Corn closed at $4.42, up 2 1/4 cents.

Read more at Yahoo Finance: Corn Slipping Back on Wednesday Morning